Kevin Mak @KevinLMak Twitter profile | Pikagi

Pikagi

Kevin Mak

@KevinLMak

10,257

Followers

36

Following

210

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2,000

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Teaches economics and investing at Stanford GSB. Special sits HF mgr. || Not Financial Advice

Stanford, CA

Joined January 2018

Don't wanna be here? Send us removal request.

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@KevinLMak

Kevin Mak

1 year

Here's a PDF of my piece on $SPHR Highlights: - $90 price target vs $35 current - November repricing catalyst with company's first guidance issuance. Margin upside vs street is likely - Weekend viral ads from Xbox and Playstation should generate significant follow through

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@KevinLMak

Kevin Mak

23 days

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@KevinLMak

Kevin Mak

2 months

$ASTS Sunday thoughts... With other retail meme runs, there's usually pretty vocal (sharp minority) that are screaming about misvaluation (overvaluation, really). These guys are usually demonstrably correct about "retail is buying overvalued indebted trash that is going to

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@KevinLMak

Kevin Mak

17 days

$ASTS Spacemob a month ago: "Warrants won't have an affect on the market price." Spacemob today: "OMG, must be down because of the warrants." Stop thinking about everything in a binary way. Everything has an effect, small, medium, large. You can use logic to piece together

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@KevinLMak

Kevin Mak

11 months

Thoughts on $ASTS Finally got caught up and listened to the full call slowly with the transcript and the presentation. Here are my thoughts... The overall tone of the call was that they were projecting confidence and giving way more details than typical public companies do.

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@KevinLMak

Kevin Mak

5 months

$ASTS I think I was wrong.. and I couldn't be happier. (Data from Markit). The data is still subject to revision, but it appears that the shorts not only didn't aggressively cover on this latest move, but they're increasing their position. I expected them to have covered a lot.

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@KevinLMak

Kevin Mak

1 month

$ASTS I keep saying "It's an 200% IV stock", but I appreciate that a lot of people don't quite understand what that means, so here's a brief explanation. Volatility (how much a stock moves up/down) is a very well studied field of stock market prices. What's interesting about it

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@KevinLMak

Kevin Mak

3 months

$ASTS Why does the stock just keep slowly trending higher? Here's part of the reason: Short interest keeps grinding lower, which almost necessarily means that those that are short are buying back shares on a daily basis. When you have someone buying ~300k shares a day, it slowly

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@KevinLMak

Kevin Mak

5 months

$ASTS I 3X'd my position on the Verizon news at around $6. Very surprised we aren't up significantly more on this, but I think the market is just reacting slowly. Very huge development imo, $100m of investment + prepayment is a big deal, and more importantly it's arguably "the

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@KevinLMak

Kevin Mak

9 months

$ASTS The good The strategic financing deal they announced was overall a good one. The price of $5.75/share was on the high-end of fair, and it also had the kicker of the $45m prepaid revenues which makes the investment price for AT&T and Vodafone effectively/implicitly higher.

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@KevinLMak

Kevin Mak

17 days

I choose my words and tone for my posts carefully. This is the ultra competitive world of investments, not kindergarten, I really don't care about people's feelings. I'm not looking for positive engagement. I think that's pretty clear to anyone who reads my posts regularly. My

@LPM1985

Lee M🅰️rtin🛰️⚛️🚛

17 days

@KevinLMak @lawyerschiff @CallsPuts1 Also coming across as 'talking down' to ppl is not a good character trait, so it's those types of things that ppl won't engage with positively.

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@KevinLMak

Kevin Mak

3 months

$ASTS Answering some questions that I've gotten through DM and comments. 1) How do you "know" whether buying is short covering, versus institutional accumulation, versus retail, etc? Just like everything in markets, you never know. You use your experience and datapoints to

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@KevinLMak

Kevin Mak

12 days

It's funny because I have 10k followers and I think 90% of them aggressively disagree with me on my views. Spacemob tells me I'm not bullish enough on $ASTS Bitcoin Mining Mob hates the HPC exposure of $CORZ The whole world thinks I'm too bullish on $JOBY Nobody cares about

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@KevinLMak

Kevin Mak

2 months

$ASTS Pretty amazing that the short interest continues to climb. They think dumb meme/momo retail is buying this... I'm pretty sure that's not the case. Datasource: IHS Markit

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@KevinLMak

Kevin Mak

3 months

They thought they had time to slowly cover... 😂 Bad decision. They're probably in panic mode today aggressively buying back shares. We'll see what they did when the data updates next week. Maybe they're waiting for the next offering...🤡 Alligator blood all over the floor.

@KevinLMak

Kevin Mak

3 months

$ASTS Why does the stock just keep slowly trending higher? Here's part of the reason: Short interest keeps grinding lower, which almost necessarily means that those that are short are buying back shares on a daily basis. When you have someone buying ~300k shares a day, it slowly

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@KevinLMak

Kevin Mak

2 months

$ASTS Interesting AH news about the FCC partial approval. As always, I don't pretend to know or understand anything about the regulatory world so I'll let the policy wonks battle out that debate. Here are my notes on positioning... Sell the news A first thought would be that

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@KevinLMak

Kevin Mak

28 days

$ASTS Good grief you guys make me cr🅰️zy. There is an extremely wide range of outcomes for ASTS. The company could be amazing, it could all fall apart. I know you don't want to hear that, but it's still an unPROVEN technology. It is TESTED with BW3, but that's not the same as

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@KevinLMak

Kevin Mak

2 months

@splendores Longs are fanatical, similar to GME/AMC. They aren't taking profits for a long time. Also when ~100% of your portfolio is ASTS, you don't have to rotate your holdings when the market prints this badly 😂 I've covered the topic multiple times as well, I've never seen a stock with

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@KevinLMak

Kevin Mak

29 days

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@KevinLMak

Kevin Mak

3 months

$ASTS Just a small piece of interesting microstructure analysis on todays price action: IMO some institution decided to buy this morning, something like 2-3m shares, VWAP. So they're just there on the bid and constantly buying from the ask. This creates momentum (the momentum

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@KevinLMak

Kevin Mak

4 months

$ASTS They're covering... and they have a lot more to cover... which means, there's a lot more pain for them this week?🧐 Source: Markit

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@KevinLMak

Kevin Mak

3 months

$ASTS Short interest continues to fall steadily, they just keep buying 500k shares per day to "slowly" unwind it, and the stock grinds higher with their buying. My guess is that they don't want to cover too fast and get the retail momentum train too excited. Also, normally game

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@KevinLMak

Kevin Mak

26 days

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@KevinLMak

Kevin Mak

2 months

$ASTS Some overnight musings. Don't know if yesterday was truly short covering or not, we hopefully will see it in the data next week (but it could be hidden from the data too). Just thinking of the narrative/setup a little, I came up with this possible scenario. Someone is

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@KevinLMak

Kevin Mak

2 months

$ASTS I look at short data a lot... and this really doesn't fit any patterns I've historically seen. I keep thinking there should be short covering, but it isn't showing up in the data. Maybe the data is wrong, but I think that's extremely unlikely. My newest best guess (still

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@KevinLMak

Kevin Mak

5 months

$ASTS Some musings about ASTS. Reminder, I know nothing about telecom, but I'm know a lot about capital markets, game theory and corporate strategy. I have a very small 1-2% of NAV position in the stock. 1. Assuming they're not in a blackout period, I hope ASTS has been selling

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@KevinLMak

Kevin Mak

7 months

$PGY What's going on with PGY? Judging by the messages I've been getting, there's a combination of investors who don't know what/how PGY operates as a business, and what the heck just happened to the PGY stock. I'll try to explain each issue, as succinctly as possible. FIRST.

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@KevinLMak

Kevin Mak

3 months

@CalWillWin Both. But mostly busted thesis. The short thesis was that ASTS wouldn't work, and/or it wouldn't get funded to build the full constellation, and/or they would lose to Starlink in competition. To the short sellers eyes, there was a 98% chance that ASTS was a $0. The 2% chance of

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@KevinLMak

Kevin Mak

3 months

$ASTS Reminder that nothing has fundamentally changed about the company in the past week, except with the price action it's a 40% worse investment now than it was before (more risk, less reward). And don't talk to me about calculating your risk based on your costs basis instead

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@KevinLMak

Kevin Mak

2 months

$ASTS They just don't... get it... Plz crazy spacemob people, take profits, be responsible with your portfolio weights. Source: IHS Markit

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@KevinLMak

Kevin Mak

1 year

The short thesis for $ASTS is that the company would need to build a satellite, launch it, unfurl it in space, connect to it, and be able to establish a high level of connectivity to it. If any single one of these steps fail, the company is in distress and probably fails. 1/n

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@KevinLMak

Kevin Mak

4 months

$ASTS Updated short interest, still extremely high. I really don't understand the short thesis at this point. Borrow rate seems steady in high single-digits, existing short positions will likely start to get rerated to this spot rate, which will make PMs start to notice and

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@KevinLMak

Kevin Mak

5 months

$ASTS Very nice day for the stock. It turns out when you announce good news and don't immediately clobber the stock with a massive equity offering, the stock performs well! Shocking, I know. The part that makes me sad is that today's price action would have happened in January

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@KevinLMak

Kevin Mak

1 month

Tears of joy, or tears of sadness? We'll see! Note: I have more long shares than short straddles so I don't have any absolute upside liability exposure. This situation is so bizarre, I just can't stay away. There's no fundamentally sensible reason why tomorrow will be volatile

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@KevinLMak

Kevin Mak

30 days

$ASTS If Abel marries me, he can have Canadian citizenship and maybe he can apply for funding.

@globalnews

Globalnews.ca

1 month

The Canadian government announced a loan of $2.14 billion to help a Quebec company build a broadband satellite network that will connect more remote communities to the internet. READ MORE:

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@KevinLMak

Kevin Mak

5 months

$ASTS Realtime Short Data from Markit. Notes: This data is collected from a third party provider, Markit, which gets self-reported data from prime brokers. That data is reported on a somewhat delayed basis (i.e. some PB's send the data in one or two or three days delayed). Also

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@KevinLMak

Kevin Mak

2 months

$CORZ CORZ with a $350M Convertible debt offering. What's going on here? CORZ has $150M of outstanding notes (debt) that has a 12% interest rate. They're borrowing new money at ~2% to pay this off, this saves them $15M per year, over ~3 years, so $45M, or about $0.10 per share.

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@KevinLMak

Kevin Mak

11 days

People keep asking me to clarify why I say starlink d2d doesn’t matter, here’s my perspective: The reason why starlink d2d doesn’t really matter is because the way the market is likely to be structured. The product (d2d connectivity) is a commodity, the customer doesn’t care

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@KevinLMak

Kevin Mak

2 months

$ASTS Listening to yesterday's call, reminds me of this comment I wrote from 10 months ago: 6) Taking a step back for a minute, I realized how bored I was listening to the call. Specifically if I put on the hat of a "financial investor". I don't care about FPGA vs ASIC's, I

@KevinLMak

Kevin Mak

11 months

Thoughts on $ASTS Finally got caught up and listened to the full call slowly with the transcript and the presentation. Here are my thoughts... The overall tone of the call was that they were projecting confidence and giving way more details than typical public companies do.

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@KevinLMak

Kevin Mak

2 months

"You don’t have to sell your warrants to buy shares. They will convert them at redemption for you." PLEASE DO NOT DO THIS. YOU WILL GET NOTHING. If they call for redemption (they have not yet), you will have time to submit an exercise request. If you do not submit it, THEY

@PilotaInteriore

iPilot🅰️

@PilotaInteriore

2 months

@CytoplasmicANA @thekookreport @KevinLMak You don’t have to sell your warrants to buy shares. They will convert them at redemption for you.

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@KevinLMak

Kevin Mak

19 days

$ASTS Quick analysis Short interest via Markit Short interest is way up. I believe the thinking here is that the "move is done, time to short the turd back to $10 like every other shitco spac that gets retail enthusiasm". I'll note that I don't focus on short interest nearly as

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@KevinLMak

Kevin Mak

2 months

This comment was posted first thing in the morning. 4 hours later, everything has changed. ASTS is #1 trending on stock twits, 70m+ shares traded, follower count jumping and randos on twitter pinging me. The clown car of retail have entered the building. It doesn’t mean they’re

@KevinLMak

Kevin Mak

2 months

@wetaski But that lack of AH volume also explains and is a key tell in the fact that this isn't a retail meme bullshit story.

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@KevinLMak

Kevin Mak

2 months

$ASTS 5 Million shares covered in the past week or so (reminder, data is delayed between 1-3 days). Realistically the buying (and the stock price jump) last week on the 15th and 16th, would have settled and shown up on the 19th, 20th, 21st. So from that perspective the data is

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@KevinLMak

Kevin Mak

3 months

$ASTS The best kind of being wrong. To be fair, I don't disagree with new shorts coming in, the stock has run a lot. But I still think they're gonna get clobbered. Shorting at $19 makes a lot more sense than being short at $4 or $9 or $12.

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@KevinLMak

Kevin Mak

1 month

Now that the dumb headline traders are out of the way… we maybe rally because the headline risk is out of the way? Plus whoever shorted the headline probably lost money and needs to cover. Turning on the ATM has no material impact on the biz, it’s actually quite positive, yet

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@KevinLMak

Kevin Mak

5 months

@fond_diagram5 ASTS vs starlink. You’re bringing a knife to a gunfight and you’re obviously going to lose. You’re a spac, show me a hard tech spac trading above $10. They don’t exist. My cell phone already has coverage. Congrats on reinventing the 1998 satellite phone. lol innovation. Did I

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@KevinLMak

Kevin Mak

4 months

Blue is YTD NAV, red is SPX. Green dotted is high water mark. They tried to take the triple digit return away from me but I snuck in there at the end and prevailed. Probably my last public performance update on X, I assume I have to follow proper disclosure rules soon.

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@KevinLMak

Kevin Mak

2 months

Had a fun diligence call/chat this week with a potential investor. "How do you think about your losing positions?" -- We don't. "Uhhh.. why not? How about your winners?" -- We don't have winning positions or losing positions, just positions. Every day we look at our book and

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@KevinLMak

Kevin Mak

4 months

$CORZ Putting a bit more time thinking about and modelling out CORZ, here's a rough scenario analysis with some explanations: We have 270 MW already contracted, and Coreweave has options for up to 230MW more. Choose your own adventure as to how much of that % converts in the

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@KevinLMak

Kevin Mak

4 months

Snapshot of my long book: $SPHR 22% $PGY 10% $CLMT 7% $ASTS 5% $CLBT 4% $CORZ 3% $JOBY 2% $SOC.WT 1% Plus a bunch of arb and short positions that I don’t disclose. Next 6 months should have a lot of fundamental factors catalyze for SPHR, PGY, and CLMT that I believe will rerate

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@KevinLMak

Kevin Mak

5 months

$ASTS Haven't given up on this one, but definitely have less engagement with it. Updated short interest data below. Good work by Abel to signal/communicate that they have no plans to issue an underwritten offering this year. That does make the lives of the short interest

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@KevinLMak

Kevin Mak

28 days

$ASTS My final piece of unsolicited advice for the evening. Learn to see merit in different sides of a trade, independent of your position. You'll be a better investor/trader for it. G'night all, you kept me very entertained while fighting with this crappy wifi on my airplane. I

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@KevinLMak

Kevin Mak

1 year

Running an arb book is hard. You have to cycle your capital over and over again and constantly hunt for new ideas. You have to handicap those ideas and size them appropriately. Size too small, you're wasting your time, size too big, and you're destroyed your alpha. You have to

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@KevinLMak

Kevin Mak

4 months

$ASTS They keep buying back shares.. every day :) Source:Markit

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@KevinLMak

Kevin Mak

10 days

I can't tell if we're up because of the unfurling that I predicted or because of the misplaced oxford comma that @thekookreport found in yesterday's letter from Starlink to the FCC🤔. j/k❤️u kookie.

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@KevinLMak

Kevin Mak

1 year

Some consolidated answers to questions/commentary about $ASTS that I've seen in the last 12 hours. Investment from Strategics ASTS did get some investment in the early days from strategics. Those cheque sizes are small, $10-$50mm, these are relatively easy for large

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@KevinLMak

Kevin Mak

3 months

$SPHR People are starting to get excited about UFC306, but I don't think they quite appreciate the financial magnitude that Sphere will pickup from the event. 1) Dana White has said/promised that UFC306 will be the biggest gate of all UFC events. The current record is UFC205

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@KevinLMak

Kevin Mak

3 months

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@KevinLMak

Kevin Mak

1 month

covered the short call leg. Still short the put leg. I think we head higher from here.

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@KevinLMak

Kevin Mak

3 months

@Steelcityband7 @SPACtacular_ @spacanpanman @chrissambar It’s a nice theory but I’d bet my left testicle that you’re wrong. I know who’s short because I’ve spoken to multiple funds that are/were short and it fits a very standard profile for a single name short. ATT shorting: This just isn’t how big companies operate. I don’t even

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@KevinLMak

Kevin Mak

5 months

Great write up from the OG 😎. Flows into the stock should continue today, I can’t imagine all the req’d buying was completed in one day, even though 100m shares traded.

@spacanpanman

Anp🅰️nman

5 months

$ASTS: A few thoughts 1) Verizon purchased $35M of convertible notes at same exact terms as the $110M convert done by Google, AT&T and Vodafone. However other strategics that are in discussion with the AST to invest in the convert will have to pay a higher conversion price based

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@KevinLMak

Kevin Mak

9 months

$ASTS Well, there's good news and there's bad news. The good news is, short interest has dropped dramatically to 1 year lows (Some probably from open market covering, others from the offering and the data is lagged a few days). Many of those most bearish on the stock, now

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@KevinLMak

Kevin Mak

3 months

@CatSE___ApeX___ Reads headline. Thinks: “What shitco crap is this dumb article peddling.” Reads first item. Checks holdings. Damnit.

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@KevinLMak

Kevin Mak

5 months

Why is the market reacting slowly? My guess is the fast-money retail has PTSD/memory/pattern recognition of the previous 15 times that ASTS had a "gap and trap" type situation where the stock runs 20-50% and then immediately falls back down (either due to retail selling or due to

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@KevinLMak

Kevin Mak

9 months

I've always considered myself an educator first, market participant second. While this post may seem timely, if you follow my work I've tweeted most of these principles over and over again in some form. But here they are one more time in a slightly summarized format: 1. My cost

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@KevinLMak

Kevin Mak

5 months

One more point, the hedge funds that are short ASTS are short because of the weak capital strategy, not because of the technology. Just like me they don’t know space based telecom that well. (Laughably the one vocal hedge fund who tried to short the technology got literally every

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@KevinLMak

Kevin Mak

4 months

Whats nice about short data is that there tends to be some signal in it, the data has decent serial-correlation which means it often trends. “Short covering begets more short covering”. GME/AMC etc gave “short squeeze” a bad name, in that it created a false expectation in a

@KevinLMak

Kevin Mak

4 months

$ASTS They're covering... and they have a lot more to cover... which means, there's a lot more pain for them this week?🧐 Source: Markit

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@KevinLMak

Kevin Mak

2 months

Shameless plug, but for a good cause.

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@KevinLMak

Kevin Mak

4 months

A gift on this fine Sunday evening... This situation doesn't come up very often, but if you ever see a market limit up (down), do not sell (buy) into the limit price. The limit is an artificial price constraint that prevents proper price discovery from happening. If the limit

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@KevinLMak

Kevin Mak

1 month

@spacanpanman "Our use of the prior at-the-market facility is a great example of this discipline, and we expect usage of a similar facility as a supplemental source of capital. As we have previously indicated, we continue to have no plans to raise capital in an underwritten public equity

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@KevinLMak

Kevin Mak

1 year

Heads up, tomorrow after the close, the annual Russell Rebalance will happen. A large number of stocks will be added or removed from the index based on the rules based criteria. 1/n

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@KevinLMak

Kevin Mak

10 months

$ASTS is still a pretty small position of my book, but I did add today (decided last night, based on my fills you can see it wasn't based on price action which was very crazy and unjustified). I have a far larger emotional/inquisitive interest in this story than financial one.

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@KevinLMak

Kevin Mak

10 months

Two year chart of Short Interest vs Stock Price for $ASTS Observations: 1) As reliable as the sun rises, short interest has consistently increased. 2) The last 10m incremental short interest from 15M to 25M all happened at prices around $4/share, these positions are down about

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@KevinLMak

Kevin Mak

5 months

YTD: Portfolio +48% Sharpe 3.1 Beta 0.5 Redline is SPY (Large majority of returns comes from arbs/special sits, not the names I tweet about. Read my CORZR write up to get an idea of what those trades kinda look like.)

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@KevinLMak

Kevin Mak

2 months

$ASTS "I wouldn't be surprised if we saw another 3-4 million shares covered this week (that will show up in the data next week)." ...It's kinda like having cheat codes to the market. (Source: IHS Markit)

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@KevinLMak

Kevin Mak

2 months

$ASTS 5 Million shares covered in the past week or so (reminder, data is delayed between 1-3 days). Realistically the buying (and the stock price jump) last week on the 15th and 16th, would have settled and shown up on the 19th, 20th, 21st. So from that perspective the data is

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@KevinLMak

Kevin Mak

1 month

$asts There’s the shelf.

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@KevinLMak

Kevin Mak

2 months

$PGY Had a chance to review the numbers and call over the weekend, here are my thoughts: Company's execution is stellar. They're continuing to do what they've said they would do. The layoffs to help drive more profitability is great signalling ("Tech" companies have bloated

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@KevinLMak

Kevin Mak

2 months

@TMFAssociates Stakes are a lot bigger with D2D. If they back the wrong horse with ASTS vs Starlink, Elon is going to bend them over when they come crawling back. That’s probably why Verizon waited so long to make a decision. Other satellite technologies were far less “essential”. But who

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@KevinLMak

Kevin Mak

2 months

Forgot to add that the recent reaction to the Verizon news (stock slowly traded from $6 to $10), and the slow reaction to the 5 sats shipping news (stock from $12 to $20) is another factor to consider how this FCC news gets priced by the market.

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@KevinLMak

Kevin Mak

1 month

@CatSE___ApeX___ If you guys want to get drunk and put in celebratory market buy orders I’m rooting for you! 🍻

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@KevinLMak

Kevin Mak

5 months

@fond_diagram5 5 minutes of DD shows this as a screaming short. That’s why people are short it. It’s the extensive DD and careful thought about the market dynamics that turns this into a long.

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@KevinLMak

Kevin Mak

9 months

@CorneliaLake As the old adage goes: What do you call the guy who goes past his risk limits and loses? Rogue trader. What do you call the guy who goes past his risk limits and wins? Managing director.

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@KevinLMak

Kevin Mak

4 months

$CORZ CORE Scientific just signed a massive transformative deal with Coreweave. $CORZ currently operates about 750MW of Datacenters being used to mine bitcoin, with ~500MW more of expansion space. This deal, is to build out/convert 200MW of data centers for their customer,

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@KevinLMak

Kevin Mak

1 year

$ASTS short interest is basically at all-time highs, against the backdrop of short covering across most names. If they can actually pull of a funding deal with AT&T or another partner, (big IF), it's gonna be fireworks.. If not, we're headed to $2 or less.

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@KevinLMak

Kevin Mak

2 months

@wetaski But that lack of AH volume also explains and is a key tell in the fact that this isn't a retail meme bullshit story.

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@KevinLMak

Kevin Mak

2 months

@thekookreport @BDaddyPen @DrOllie1979 I plead ignorance and retract my comment. Nobody will be able to copy the ASTS technology. Official ticker change to GOATMOAT.

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Kevin Mak

2 months

Thinking back a little bit, what I got wrong in the past two years is thinking that hitting technical milestones and "Derisking" the project would result in incremental changes to the market price. The fundamental value of the business goes up as derisking occurs (lower chance of

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@KevinLMak

Kevin Mak

10 months

$ASTS Daily short interest shows us at the lowest levels in the past 3 months... My default would be to say this is probably because of the Hedge Fund L/S unwind, but I'm not seeing similar patterns in other names.... Maybe some shorts are actually paying attention to the

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@KevinLMak

Kevin Mak

2 months

@GaryTeplis It’s better when you read something intelligent that *contradicts* your own reasoning. That’s how you learn!

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@KevinLMak

Kevin Mak

2 months

@TMFAssociates I actually hope you’re right Tim. Would be a fun outcome to observe. I think the chance you’re right is quite low at this point. It’s not that I know the physics better than you (I absolutely do not), I’d just love to see all of the corporate partners prove to be incompetent with

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@KevinLMak

Kevin Mak

1 year

I think this is a common hot take in the institutional investing world, and reasonable for someone not wanting to think very hard about the issue: Iridium is a $5B market cap company with a decades of satellite experience and it's going to take them to 2030 to hit $1B of

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Kevin Mak

12 days

$JOBY I've had a long thesis on this since the beginning of time. Small position, but I think it's mispriced here for the same reason that a handful of others deSPACs are mispriced. They have widespread industry partner support (and ex-regulator support), but nearly zero market

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@KevinLMak

Kevin Mak

3 months

$PGY Haven't written about these guys in a while so here's a quick update. We're sitting at $15 now, basically the same levels we were at right before they did a disastrous $100M offering that torched the stock and brought it down to $9. Here's my commentary on that situation:

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@KevinLMak

Kevin Mak

1 year

@lurker8679 Tiny, about 1% of our book, and it’s just straight stock. I talk about ASTS because I think there’s some interesting dynamics going on with this that are fun to follow. For example I’ve never seen a “good news move” that was absorbed so thoroughly by the short interest. I’ve

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@KevinLMak

Kevin Mak

1 year

I will post a deep dive into $PGY earnings next week on seeking alpha, but for now I'll mention some structural catalysts to keep an eye on in the immediate term: 1/n

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Kevin Mak

3 months

@defiantclient @CatSE___ApeX___ Yes Catse’s knowledge in the field is insane. I feel like Abel has a team of 5 people in his basement just building diagrams and posting explanations as him.

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@KevinLMak

Kevin Mak

15 days

$SPHR Quick catch up on upcoming catalysts. MSGN Debt The MSGN term loan matures on Oct 11. On/before that date it is very likely they will announce they’re defaulting (partially or fully) on the loan. This would be accretive to the company by $200m-600m dollars. When they

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@KevinLMak

Kevin Mak

5 months

A week ago I said this: "Also, a $100m+ strategic round would be the final nail in the coffin for the short positions to show them "you will not get exit liquidity from us for years, so good luck with closing that position". 20m+ short shares covering

@KevinLMak

Kevin Mak

5 months

$ASTS Some musings about ASTS. Reminder, I know nothing about telecom, but I'm know a lot about capital markets, game theory and corporate strategy. I have a very small 1-2% of NAV position in the stock. 1. Assuming they're not in a blackout period, I hope ASTS has been selling

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Kevin Mak

8 months

$PGY First look at earnings, everything looks good/solid. Haven't done a deep dive yet (Super sick with a stomach bug). Hopefully will talk to mgmt next week and I'll write a summary shortly after.

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Kevin Mak

1 year

I imagine this is a backhanded way to scoop AT&T who will be making the "official" big announcement of 5G next week.

@AbelAvellan

Abel Avellan

1 year

Celebrating one year of successful operation of BlueWalker 3!! 🎉 SpaceMobile 5G moving closer to commercial operations as we build our next batch of satellites based on BW3's groundbreaking and patented technologies 🦾🤠🇺🇸📶 #5G

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